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Legislative Assembly for the ACT: 2012 Week 5 Hansard (3 May) . . Page.. 1962..

Opposition members interjecting—

MR SPEAKER: Order, members! I cannot hear Ms Porter asking her question, and I remind members that four members of the chamber are on a warning. Ms Porter, you have the floor.

MS PORTER: Minister, can you please outline what effects these reforms could have on the ACT economy?

MR BARR: The reforms that I have announced the government is pursuing will have a significant impact to assist the ACT economy to move through what will undoubtedly be a difficult time following next week's federal budget. There is no doubt the commonwealth government, the single largest player in the territory economy, will be further contracting expenditure in this economy. Therefore, it is essential for there to be continued economic and jobs growth in this city for the ACT government and the private sector to continue to pursue policies and actions that will enable further economic growth. The reforms that we have announced and the further reforms that will be announced in the lead-up to the territory budget and the budget itself will be geared to respond to those challenges.

The ACT economy is generally countercyclical to the national economy given the significant role the commonwealth government plays. The massive investment boom that is coming for Australia is heading north and west of here. The commonwealth government have indicated that they will be retracting expenditure, and we see that in their stated goal for a surplus. The impacts of that were welcomed in the context of a Reserve Bank announcement of a 50 basis point cut to interest rates. That will benefit the territory economy, but the time now is for the private sector and for the territory government to step up to address the challenges that this community will face as the commonwealth retracts its level of economic activity in the ACT.

That is the challenge we have before us. The government and the business community are going to work together. I hope other parties will join us in accepting that challenge.

Ms Gallagher: I ask that all further questions be placed on the notice paper.

Personal explanation

MRS DUNNE (Ginninderra): Mr Speaker, I seek to make a statement under standing order 46.

MR SPEAKER: Do you believe you have been misrepresented, Mrs Dunne?

MRS DUNNE: I believe that I have been misrepresented.

MR SPEAKER: Yes. You have leave, Mrs Dunne.

MRS DUNNE: In question time today I asked Minister Burch about an answer to a question without notice that she gave to Mr Seselja on public art. I said:

In your answer you claimed that public art will "increase property values".

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